Schlumberger has to sell assets in Russia if it leaves country due to sanctions — watchdog

Apr 08 2015

TASS

US-based company Schlumberger should keep all its Russian assets on the territory of the country if it has to leave Russia due to Western sanctions, Andrey Tsarikovsky, Deputy Chief of the Federal Antimonopoly Service (FAS) said Wednesday.

US-based company Schlumberger should keep all its Russian assets on the territory of the country if it has to leave Russia due to Western sanctions, Andrey Tsarikovsky, Deputy Chief of the Federal Antimonopoly Service (FAS) said Wednesday.

This is Russia’s main condition for the activities of Schlumberger in the country, Tsarikovsky said. He added that Russia is interested in Schlumberger’s presence on its territory.

In late January, Schlumberger, the world’s largest oil services company, announced plans to acquire a 46% stake in Eurasia Drilling, an oilfield service company, for $1.7 bln.

The FAS halted the deal fearing that a foreign investor would control 30% of Russia’s drilling market.

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